
Reinsurance Recoverables by Credit Quality Indicator
	As of June 30, 2026								As of December 31, 2025
	P&C		Employee Benefits		Corporate		Total		P&C		Employee Benefits		Corporate		Total
A.M. Best Financial Strength Rating
A++	$	2,118	$	—	$	—	$	2,118	$	2,161	$	—	$	—	$	2,161
A+	2,243		301		210		2,754		2,292		286		213		2,791
A	719		1		—		720		764		1		—		765
A-	588		3		—		591		603		3		2		608
B++	2		—		2		4		2		—		—		2
Below B++	21		—		—		21		21		—		—		21
Total Rated by A.M. Best	5,691		305		212		6,208		5,843		290		215		6,348
Mandatory (Assigned) and Voluntary Risk Pools	195		—		—		195		204		—		—		204
Captives	483		—		—		483		465		—		—		465
Other not rated companies	215		6		—		221		238		5		—		243
Gross Reinsurance Recoverables	6,584		311		212		7,107		6,750		295		215		7,260
Allowance for uncollectible reinsurance	(67)		(1)		(2)		(70)		(66)		(1)		(2)		(69)
Net Reinsurance Recoverables	$	6,517	$	310	$	210	$	7,037	$	6,684	$	294	$	213	$	7,191


Allowance for Uncollectible Reinsurance
	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
P&C beginning allowance for uncollectible reinsurance	$	68	$	72	$	66	$	72
Beginning allowance for disputed amounts	46		52		42		48
P&C beginning ACL	22		20		24		24
Current period provision (release)	1		1		(1)		(3)
Current period gross write-offs	—		—		—		—
P&C ending ACL	23		21		23		21
Ending allowance for disputed amounts	44		51		44		51
P&C ending allowance for uncollectible reinsurance	67		72		67		72
Employee Benefits allowance for uncollectible reinsurance	1		1		1		1
Corporate allowance for uncollectible reinsurance	2		2		2		2
Total allowance for uncollectible reinsurance	$	70	$	75	$	70	$	75

There have been no material changes to the allowance for uncollectible reinsurance in the three and six months ended June 30, 2026 and 2025. For further information regarding the Company's determination of reinsurance recoverables and reinsurance allowance for uncollectible reinsurance, see Note 8 - Reinsurance of Notes to Consolidated Financial Statements included in the Company's 2025 Form 10-K Annual Report.